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Ethereum futures premium drops to 3 month low Is ETH undervalued
Published: 2024-02-03
Main topics in the article:
1. Ethereum futures premium drops to a 3-month low
2. Assessment of whether ETH is undervalued
1. The article discusses the drop in Ethereum futures premium to a 3-month low. This indicates that the optimism surrounding Ethereum's price has decreased compared to previous months. The decrease in futures premium suggests that fewer traders are expecting a significant increase in Ethereum's value in the near term. This could be due to various factors,such as market uncertainty or a shift in focus to other cryptocurrencies. It is noteworthy that the drop in futures premium does not necessarily mean that Ethereum's price will decline,but rather indicates a decrease in bullish sentiment among traders.
2. The article explores the question of whether Ethereum (ETH) is undervalued. It highlights the fact that cryptocurrencies,including Ethereum,have experienced significant price appreciation in recent months. However,some market observers argue that ETH may still be undervalued compared to its potential. The article mentions that institutional investors and analysts believe that Ethereum has strong fundamentals and offers significant growth potential. Factors such as the increasing adoption of decentralized finance (DeFi) and the upcoming Ethereum 2.0 upgrade contribute to the positive sentiment surrounding Ethereum's long-term value.
3. The article briefly mentions the potential reasons behind the drop in Ethereum's futures premium and discusses investor sentiment towards the cryptocurrency. It points out that the decrease in futures premium could be a sign of a cooling market,as traders become less optimistic about Ethereum's short-term performance. It also briefly touches upon the ongoing debate about whether Ethereum is undervalued and highlights the optimistic views of institutions and analysts who believe in the long-term potential of the cryptocurrency. While market sentiment can shift quickly,this article suggests that there may be some cautiousness surrounding Ethereum's near-term prospects,while maintaining a positive long-term outlook.
Reference: cointelegraph.com
The most traded coin
(Update every 1 hour)
| at | from | is ($US) | turnover ($) |
|---|---|---|---|
| 1 | BTC |
57,255.55 | 4,244,383,292.79 |
| 2 | ARS |
1,086.00 | 2,205,316,169.70 |
| 3 | ETH |
2,866.36 | 1,946,325,273.74 |
| 4 | SOL |
120.52 | 890,014,246.61 |
| 5 | PEPE |
<0.01 | 418,702,475.95 |
| 6 | DOGE |
0.12 | 298,105,511.77 |
| 7 | XRP |
0.49 | 235,277,339.55 |
| 8 | ENA |
0.77 | 201,489,350.37 |
| 9 | WIF |
2.30 | 173,298,886.65 |
| 10 | ETHFI |
3.61 | 159,882,197.73 |
| 11 | ORDI |
32.24 | 125,292,152.76 |
| 12 | NEAR |
5.83 | 119,680,054.66 |
| 13 | BONK |
<0.01 | 115,781,766.79 |
| 14 | BOME |
<0.01 | 110,644,766.39 |
| 15 | RUNE |
4.59 | 104,013,730.69 |
| 16 | AVAX |
31.09 | 103,885,516.98 |
| 17 | OP |
2.45 | 90,812,805.00 |
| 18 | TRX |
0.12 | 86,722,549.41 |
| 19 | WLD |
4.29 | 75,023,540.69 |
| 20 | SUI |
1.10 | 68,908,487.79 |
| 21 | ADA |
0.43 | 68,464,141.29 |
| 22 | AR |
28.23 | 66,052,003.79 |
| 23 | FIL |
5.32 | 65,785,040.28 |
| 24 | MATIC |
0.64 | 61,293,122.01 |
| 25 | RNDR |
7.03 | 60,525,420.63 |
| 26 | BCH |
407.70 | 60,292,097.72 |
The price of coins is falling rapidly.
(Update every 1 minute)
| at | from | is ($US) | reduce (%) |
|---|---|---|---|
| 1 | ORDI |
32.24 | -22.82 |
| 2 |  COS |
0.01 | -22.69 |
| 3 | AR |
28.23 | -20.83 |
| 4 |  COMBO |
0.62 | -20.37 |
| 5 |  STX |
1.95 | -18.09 |
| 6 |  POND |
0.02 | -17.63 |
| 7 |  AMP |
<0.01 | -17.31 |
| 8 |  PROM |
7.99 | -17.30 |
| 9 |  ANKR |
0.04 | -16.81 |
| 10 |  ONG |
0.54 | -16.27 |
| 11 |  ERN |
3.43 | -16.25 |
| 12 |  RPL |
17.82 | -15.47 |
| 13 | PEPE |
<0.01 | -15.42 |
| 14 |  NULS |
0.53 | -15.10 |
| 15 |  1000SATS |
<0.01 | -14.99 |
| 16 |  YGG |
0.71 | -14.97 |
| 17 |  ELF |
0.50 | -14.71 |
| 18 |  ORN |
1.39 | -14.50 |
| 19 |  NEO |
15.65 | -14.43 |
| 20 |  ACE |
4.51 | -14.39 |
| 21 |  SAGA |
3.00 | -14.28 |
| 22 |  REI |
0.07 | -14.27 |
| 23 |  AEVO |
1.27 | -14.26 |
| 24 |  WAVES |
2.11 | -14.08 |
| 25 |  QTUM |
3.41 | -14.06 |
| 26 |  GAS |
4.63 | -14.04 |
| 27 |  CLV |
0.06 | -13.97 |
| 28 |  VOXEL |
0.22 | -13.64 |
| 29 |  ALICE |
1.11 | -13.61 |
| 30 |  SEI |
0.52 | -13.54 |
Bitcoin's Greed and Fear Index.
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US news that has a significant impact on the market
| at | news | day | date | time |
|---|---|---|---|---|
| 1 | ADP Non-Farm Employment Change | Wednesday | 01-05-2024 | 13:15 |
| 2 | Final Manufacturing PMI | Wednesday | 01-05-2024 | 14:45 |
| 3 | ISM Manufacturing PMI | Wednesday | 01-05-2024 | 15:00 |
| 4 | JOLTS Job Openings | Wednesday | 01-05-2024 | 15:00 |
| 5 | ISM Manufacturing Prices | Wednesday | 01-05-2024 | 15:00 |
| 6 | Construction Spending m/m | Wednesday | 01-05-2024 | 15:00 |
| 7 | Wards Total Vehicle Sales | Wednesday | 01-05-2024 | 15:15 |
| 8 | Crude Oil Inventories | Wednesday | 01-05-2024 | 15:30 |
| 9 | Federal Funds Rate | Wednesday | 01-05-2024 | 19:00 |
| 10 | FOMC Statement | Wednesday | 01-05-2024 | 19:00 |
| 11 | FOMC Press Conference | Wednesday | 01-05-2024 | 19:30 |
| 12 | Challenger Job Cuts y/y | Thursday | 02-05-2024 | 12:30 |
| 13 | Unemployment Claims | Thursday | 02-05-2024 | 13:30 |
| 14 | Prelim Nonfarm Productivity q/q | Thursday | 02-05-2024 | 13:30 |
| 15 | Prelim Unit Labor Costs q/q | Thursday | 02-05-2024 | 13:30 |
| 16 | Trade Balance | Thursday | 02-05-2024 | 13:30 |
| 17 | Factory Orders m/m | Thursday | 02-05-2024 | 15:00 |
| 18 | Natural Gas Storage | Thursday | 02-05-2024 | 15:30 |
| 19 | Average Hourly Earnings m/m | Friday | 03-05-2024 | 13:30 |
| 20 | Non-Farm Employment Change | Friday | 03-05-2024 | 13:30 |
| 21 | Unemployment Rate | Friday | 03-05-2024 | 13:30 |
| 22 | Final Services PMI | Friday | 03-05-2024 | 14:45 |
| 23 | ISM Services PMI | Friday | 03-05-2024 | 15:00 |
| 24 | FOMC Member Williams Speaks | Saturday | 04-05-2024 | 01:15 |
